The average price of natural gas for day-ahead delivery decreased month over month in November in all U.S. regions except for the West.
The Gulf Coast reported the biggest drop as gas prices in the region fell 10.16% from the prior month to $4.743/MMBtu and were down 3.51% year over year.
The Midcontinent recorded a month-over-month decrease of 8.37% to an average of $4.670/MMBtu, the lowest average price among all regions in November. The Northeast fell 2.64% month over month and 0.62% year over year to $4.923/MMBtu.
Gas prices in the West logged a large 38.63% month-over-month gain in November to land at an average of $6.620/MMBtu. The West saw a 35.73% gain year over year.
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Western hubs
Most natural gas hubs in the U.S. West posted large price gains year over year in November, ranging from a decrease of 13.95% to an increase of 68.53%.
Western hubs recorded spot gas price indexes with large variations. The PG&E gate, with a year-over-year price gain of 53.14%, reported the highest index in November at $9.448/MMBtu.
Supply forecasts
All shale regions in the U.S. will likely increase gas production in December compared with the prior month, the U.S. Energy Information Administration said in its monthly Drilling Productivity Report released Nov. 14. The EIA projected total U.S. shale gas production to rise from 95.12 Bcf/d in November to 95.69 Bcf/d in December.
Gas production in Appalachia, the region that produces the most shale gas in the U.S., is expected to increase from 35.43 Bcf/d in November to 35.57 Bcf/d in December. Production in the Haynesville Shale region is forecast to grow from about 16.08 Bcf/d to 16.26 Bcf/d during the same period.
Market prices and included industry data are current as of the time of publication and are subject to change. For more detailed market data, including power and natural gas index prices as well as forwards and futures, visit our Commodities pages.
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